Transcontinental Realty Investors Inc. and Abode Properties Break Ground on Lakeside Lofts in Dallas, Texas
May 30 2018 - 8:00AM
Business Wire
Transcontinental Realty Investors Inc., (NYSE: TCI) and
Abode Properties recently broke ground on its new development
Lakeside Lofts in Dallas, Texas.
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the full release here:
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Lakeside Lofts apartments located in
Mercer Crossing development in Dallas, Texas (Photo: Business
Wire)
Lakeside Lofts is a picturesquely situated, lakefront property.
This upscale multi-family project consisting of 498 units is
located in the 1,200 acre Mercer Crossing mixed use development.
The highly desirable site is located adjacent to the existing Omni
Hotel, as well as two other hotels currently under construction.
This market consistently reports the highest occupancy percentages
of any full-service hotel in the Dallas area.
Lakeside Lofts offers resort style pools, upscale clubhouse and
fitness center, theater, two 6 level parking garages, bocce ball
court, fire pit, hiking & biking trail, and easy access to
several of Dallas’s major freeways and toll roads. Residents will
find ten 1 & 2 bedroom floorplans to choose from, featuring
shaker style cabinets, 2 inch faux wood blinds, granite counter
tops, in unit washer and dryer, and stainless steel appliances.
Units also offer vinyl plank wood flooring in all kitchen, bath and
laundry areas, and vinyl plank wood flooring throughout in all
first floor units.
Mercer Crossing is a mixed use development including office,
single family and multifamily residential, hotel, and retail.
Because of its prime location, demand for apartments in the fastest
growing area of Greater Dallas is exceeding availability, even with
several new projects in the area. Mercer South will also include a
200 room hotel with a restaurant row and boardwalk, trails and
parks, retail, and grocery. Builders currently under contract
include Beazer Homes, M/I Homes, W3 Luxury Living, Oakdale Homes,
Megatel Homes, Sienna Homes, and First Texas Homes.
“It’s exciting to watch the development of Lakeside Lofts right
outside our Browning Place windows,” commented Daniel J. Moos,
TCI’s President and CEO. “This is the eighth multi-family asset
we’ve developed or leased up so far this year. We expect more great
additions to the portfolio during the remaining months of
2018.”
Transcontinental Realty Investors maintains a strong emphasis on
creating greater shareholder value through acquisition, financing,
operation, developing, and sale of real estate across every
geographic region in the United States. A New York Stock Exchange
company, Transcontinental is traded under the symbol "TCI".
Transcontinental produces revenue through the professional
management of apartments, office buildings, warehouses, and retail
centers that are "undervalued" or "underperforming" at the time of
acquisition. Value is added under Transcontinental ownership, and
the properties are repositioned into higher classifications through
physical improvements and improved management. Transcontinental
also develops new properties, such as luxury apartment homes
principally on land it owns or acquires.
Abode Properties is a subsidiary of Transcontinental Realty
Investors Inc., (NYSE: TCI), a Dallas-based real estate investment
company. Abode’s investment and strategic focus is to acquire,
develop, and operate a portfolio of desirable multifamily
residential properties, while capitalizing on our ability to obtain
long term and static debt structures. The portfolio stands to
benefit from historically established, proven, and successful
operational practices, seasoned on-site management, and an
experienced leadership team with forward thinking capabilities in
order to realize maximum cash flows and consistent returns, while
maintaining unequaled resident and customer service. We are
disciplined and prudent allocators of capital and we will continue
growing our geographically diverse portfolio from the Southwest to
the Southeast. These markets are geographically located in areas of
the country that correspond with both sustainable and viable
economic growth activity.
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version on businesswire.com: https://www.businesswire.com/news/home/20180530005398/en/
On behalf of Transcontinental Realty Investors Inc.Chris
Childress, 469-522-4275
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